Veralto Co. (NYSE:VLTO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Veralto Co. (NYSE:VLTO) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $95.18.

VLTO has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Argus began coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their target price on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $93.56, for a total transaction of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veralto

Several institutional investors have recently added to or reduced their stakes in VLTO. Vanguard Group Inc. purchased a new stake in Veralto during the 4th quarter valued at $2,127,330,000. Capital International Investors bought a new position in Veralto in the 4th quarter worth $538,324,000. Brown Advisory Inc. bought a new position in Veralto in the 4th quarter worth $528,018,000. Impax Asset Management Group plc bought a new position in Veralto in the 4th quarter worth $347,827,000. Finally, Norges Bank bought a new position in Veralto in the 4th quarter worth $266,143,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of NYSE VLTO opened at $95.89 on Friday. The company has a 50-day moving average price of $89.39 and a 200-day moving average price of $81.12. Veralto has a 1 year low of $65.51 and a 1 year high of $96.13. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Veralto will post 3.34 EPS for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.09 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.